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2020 Interim Report China CITIC Bank Corporation Limited

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2020 Interim Report China CITIC Bank Corporation Limited China CITIC Bank Corporation Limited (A joint stock limited company incorporated in the People’s Republic of China with limited liability) Stock Code: 0998 2020 Interim Report Strive to Be the Company Offering the Best Comprehensive Financial Services Address : 6-30/F and 32-42/F, Building No. 1, 10 Guanghua Road, Chaoyang District, Beijing Postal Code : 100020 Investor Hotline : +86-10-66638188 Email Address : [email protected] Website : www.citicbank.com 2020 Interim Report This Interim Report is printed on recyclable paper Important Notice The Board of Directors, the Board of Supervisors, directors, supervisors and senior management members of the Bank guarantee that the information contained in the 2020 Interim Report does not include any false records, misleading statements or material omissions, and assume several and joint liabilities for its truthfulness, accuracy and completeness. The meeting of the Board of Directors of the Bank adopted the full text and summary of the Bank’s 2020 Interim Report on 27 August 2020. 10 of the 10 eligible directors attended the meeting, with Director Guo Danghuai and Director Huang Fang, due to conflicting schedules, entrusting Director Fang Heying and Director Wan Liming to attend and vote on their behalf as proxies respectively. The supervisors and senior management members of the Bank attended the meeting as non-voting delegates. The Bank neither distributed any profit nor converted capital reserve into share capital in the first half of 2020. The 2020 Interim Financial Reports that the Bank prepared in accordance with the PRC Accounting Standards and the International Financial Reporting Standards (IFRS) were reviewed by PricewaterhouseCoopers Zhong Tian LLP and PricewaterhouseCoopers in accordance with the review standards of the Chinese mainland and Hong Kong SAR respectively. Ms. Li Qingping as Chairperson of the Board of Directors, Mr. Fang Heying as Executive Director, President and concurrently Chief Financial Officer of the Bank and Ms. Li Peixia as General Manager of the Finance and Accounting Department of the Bank hereby declare and guarantee the truthfulness, accuracy and completeness of the financial report contained in the Bank’s 2020 Interim Report. Cautionary note on forward-looking statements: Forward looking statements such as future plans and development strategies contained in the Report do not constitute substantive commitments of the Bank to its investors. Investors and relevant persons are kindly reminded to maintain adequate risk awareness of such statements and understand the differences between plans, forecasts and commitments. Material risk reminder: During the reporting period, the Bank was not aware of any material risk that would adversely affect its future development strategies and business targets. The Bank has detailed in the Report the major risks that it was and may be exposed to in its operation and management and its countermeasures thereof. For relevant information thereof, please refer to “Risk Management” and “Outlook” in Chapter 3 “Management Discussion and Analysis” of the Report. For the purpose of this report, numbers are expressed in Renminbi (RMB) unless otherwise specially stated. The Report is compiled both in Chinese and English. Should there be any discrepancy between Chinese and English versions, the Chinese version shall prevail. Contents Definitions 3 Chapter 1 Corporate Introduction 4 Chapter 2 Financial Highlights 8 Chapter 3 Management Discussion and Analysis 11 3.1 Economic, Financial and 11 Regulatory Environments 3.2 Overview of the Bank’s Operating Results 11 3.3 Financial Statements Analysis 12 3.4 Capital Market Focuses 36 3.5 Business Overview 40 3.6 Risk Management 58 3.7 Internal Control 66 3.8 Internal Audit 68 3.9 Capital Management 68 3.10 Material Investments, Acquisitions and 69 Disposal and Restructuring of Assets 3.11 Information about Structured Entities 70 3.12 Outlook 70 Chapter 4 The Report of Board of Directors 71 Chapter 5 Changes in Ordinary Shares and Information on 83 Ordinary Shareholders Chapter 6 Preference Shares 91 Chapter 7 Convertible Corporate Bonds 94 Chapter 8 Directors, Supervisors, Senior Management 96 Members, Staff and Affiliates Chapter 9 Corporate Governance 101 Chapter 10 Report on Review of Interim Financial Information 105 Mission and Vision To become a unique and responsible Vision enterprise offering the best comprehensive financial services with dignity and a human touch To create value for customers, seek happiness for employees, make Mission profit for shareholders and perform responsibility for the society Customer orientation, integrity, Core innovation, coordination values and excellence Building “trust” for long-term Brand growth, incorporating smart services motto for boundless financing 2 China CITIC Bank Corporation Limited Definitions the reporting period From 1 January 2020 to 30 June 2020 the Bank/Company/China CITIC China CITIC Bank Corporation Limited Bank/CITIC Bank/CNCB the Group China CITIC Bank Corporation Limited and its subsidiaries Poly Group China Poly Group Corporation Limited Lin’an CITIC Rural Bank Zhejiang Lin’an CITIC Rural Bank Limited Hong Kong Listing Rules The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited Xinhu Zhongbao Xinhu Zhongbao Co., Ltd. CITIC Wealth Management CITIC Wealth Management Corporation Limited CNCB Investment CNCB (Hong Kong) Investment Co., Ltd. (formerly known as China Investment and Finance Limited) former CBRC former China Banking Regulatory Commission China Tobacco China National Tobacco Corporation CBIRC China Banking and Insurance Regulatory Commission CSRC China Securities Regulatory Commission CITIC aiBank CITIC aiBank Corporation Limited CITIC Limited CITIC Limited (formerly known as CITIC Pacific Limited prior to renaming in August 2014) CIAM CITIC International Assets Management Limited CIFH CITIC International Financial Holdings Limited CITIC Group CITIC Group Corporation Limited (formerly known as CITIC Group Corporation prior to renaming in December 2011) CITIC Financial Leasing CITIC Financial Leasing Co., Ltd. CITIC Pacific CITIC Pacific Limited CNCBI CITIC Bank International Limited (formerly known as CITIC Ka Wah Bank Limited) CITIC Corporation Limited CITIC Corporation Limited (formerly known as CITIC Limited prior to renaming in August 2014) (Note: The definitions are arranged in the alphabetic order of Mandarin Pin Yin) 2020 Interim Report 3 Chapter 1 Corporate Introduction 1.1 Corporate Information Registered Name in Chinese 中信銀行股份有限公司 (abbreviated as “中信銀行”) Registered Name in English CHINA CITIC BANK CORPORATION LIMITED (abbreviated as “CNCB”) Legal Representative Li Qingping Authorized Representative Fang Heying, Zhang Qing Secretary to the Board of Directors Zhang Qing Joint Company Secretaries Zhang Qing, Kam Mei Ha Wendy (FCS, FCIS) Securities Representative of the Company Wang Junwei Registered Address No 9 Chaoyangmen Beidajie, Dongcheng District, Beijing Postal Code of the Registered Address 100010 6-30/F and 32-42/F, Building No. 1, 10 Guanghua Road, Chaoyang District, Office Address Beijing1 Office Postal Code 100020 Official Website www.citicbank.com Telephone Number/Fax Number for Investors +86-10-66638188/+86-10-65559255 Customer Service and Compliant Hotline 95558 Email Address for Investors [email protected] Principal Place of Business in Hong Kong Level 54 Hopewell Center, 183 Queen’s Road East, Hong Kong Selected Media for Information Disclosure China Securities Journal, Shanghai Securities News, Securities Times Website designated by the CSRC to publish A-share interim report: www.sse.com.cn Websites for Information Disclosure Website designated by the SEHK to publish H-share interim report: www.hkexnews.hk Office of the Board of Directors of CITIC Bank, Building No. 1, 10 Guanghua Place Where Interim Reports are Kept Road, Chaoyang District, Beijing Legal Adviser as to PRC Laws East & Concord Partners Legal Adviser as to Hong Kong Laws Clifford Chance LLP PricewaterhouseCoopers Zhong Tian LLP 11/F, PricewaterhouseCoopers Center, No.2 Corporate Avenue, No. 202 Hubin Domestic Auditor Road, Huangpu District, Shanghai (Postal code: 200021) Domestic Signing CPAs: Zhu Yu and Li Yan PricewaterhouseCoopers Overseas Auditor 22/F, Prince’s Building, Central, Hong Kong Overseas Signing CPA: Leung Wai Kin Sponsor 1 for Continuous Supervision and CITIC Securities Co., Ltd. Guidance 23/F, CITIC Securities Mansion, No. 48 Liangmaqiaolu, Chaoyang District, Office Address Beijing Signing Sponsor Representatives Ma Xiaolong and Cheng Yue From 19 March 2019 to 31 December 2020 (Where the convertible bonds are not Duration of Continuous Supervision and fully converted to shares upon expiry of the duration of continuous supervision Guidance and guidance, the duration shall be extended to the time of full conversion of the convertible bonds) Sponsor 2 for Continuous Supervision and China International Capital Corporation Limited (CICC) Guidance 1 For details on the change of office address of the Bank, please refer to the Bank’s announcements on the official websites of SSE (www.sse.com.cn), HKEXnews (www.hkexnews.hk) and the Bank (www.citicbank.com) dated August 26, 2020. 4 China CITIC Bank Corporation Limited Chapter 1 Corporate Introduction Office Address 27-28/F, China World Office 2, No. 1 Jianguomen Waidajie, Beijing Signing Sponsor Representatives Xu Jia and Shi Fang From 19 March 2019 to 31 December 2020 (Where the convertible bonds are not Duration of Continuous
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